Polity and Economy under Extreme Economic Conditions: A Comparative Study of the Reagan and Thatcher Experiences

Yantek, Thom

doi:10.2307/2111317

Cited by 15 publications

(11 citation statements)

References 9 publications

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“…There are also some studies including inflation in its first difference since the original time series of inflation turned out to be non-stationary. Finally, there are a number of studies which fail to report which inflation measure has been used (Golden and Poterba (1980) and Yantek (1988)). Similar degrees of heterogeneity can be observed for income/output and unemployment measures.…”

Section: The Choice Of Economic Indicatorsmentioning

confidence: 99%

The economic determinants of U.S. presidential approval: A survey

Berlemann

Enkelmann

2014

European Journal of Political Economy

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Even after four decades of research it remains unclear, whether presidential popularity depends on the state of the economy. While about half of all studies for the United States find a significant effect of unemployment and inflation on pr esidential popularity, the others do not. Additional economic issues have rarely been studied. In this survey article we study the likely causes for the inconclusive findings. While various factors have an influence on t he results, especially the choice of the sample period is of crucial importance. While in the very long run we find unemployment, inflation and the budget deficit to have a robust effect on presidential approval, this holds not true for shorter sub-periods. This result might indicate that the popularity function is instable over time. However, the findings might also be taken as an indication that the most often employed linear estimation approach is inadequate. Further research on these issues is necessary. JEL-Code: D720, H110.

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Section: The Choice Of Economic Indicatorsmentioning

confidence: 99%

The economic determinants of U.S. presidential approval: A survey

Berlemann

Enkelmann

2014

European Journal of Political Economy

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“…Unfortunately there is little agreement in the literature on the magnitude of economic effects on party popularity or their stability over time. Several writers have reported strong and enduring relationships (Goodhart and Bhansali 1970;Frey and Schneider 1978;Hibbs 1982), whereas others have found no significant effects at all (Frey and Garbers 1971;Chrystal and Alt 1981;Yantek 1988).…”

Section: Theories Of Politico-economic Interactionmentioning

confidence: 99%

“…Unfortunately there is no agreement in the literature to support this inference. On the contrary, Yantek (1988) recently argued that there is no significant relationship between the state of the economy and support for the prime minister in Britain, which suggests that manipulation of the economy for political purposes is a waste of time. Other writers have, of course, disagreed; for example, Sanders et al (1987) have argued that the influence of economic expectations on political support are so strong in Britain that changing expectations, rather than the victory in the Falklands war, explain the dramatic rise in support for the Conservative government in 1982.…”

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confidence: 99%

Perceptions of macroeconomic performance, government support and Conservative Party strategy in Britain 1983–1987

Clarke

Whiteley

1990

European J Political Res

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Abstract. This paper examines the relationship between macroeconomic performance and party popularity for the Conservative government of Margaret Thatcher in Britain from 1983 to 1987. A popularity function is estimated which shows that government support was significantly influenced by inflation and unemployment; perceptions and expectations of economic performance; and a variety of non‐economic variables and political shocks. A monetary policy reaction function is also estimated which shows that the Conservative government manipulated the money supply in order to stimulate the economy in the election year. Finally, an outcome function is estimated showing that monetary policy had a significant influence on inflation and unemployment. The results demonstrate that the Conservatives pursued a strategy of manipulating the economy for political profit, in a way consistent with the political business cycle.

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“…To our knowledge, Yantek () was the first to include squared economic variables in a popularity function.…”

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confidence: 99%

Unraveling the Relationship Between Presidential Approval and the Economy: A Multidimensional Semiparametric Approach

Berlemann

Enkelmann

Kuhlenkasper

2014

J of Applied Econometrics

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Polity and Economy under Extreme Economic Conditions: A Comparative Study of the Reagan and Thatcher Experiences

Cited by 15 publications

References 9 publications

The economic determinants of U.S. presidential approval: A survey

The economic determinants of U.S. presidential approval: A survey

Perceptions of macroeconomic performance, government support and Conservative Party strategy in Britain 1983–1987

Unraveling the Relationship Between Presidential Approval and the Economy: A Multidimensional Semiparametric Approach

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